Azincourt Energy (AAZ.V) is a Canadian-based resource exploration and development company focused on the alternative fuels/alternative energy sector. Their core projects are in the clean energy space, with uranium exploration projects in the prolific Athabasca Basin, Saskatchewan, Canada, and lithium/uranium projects on the Picotani Plateau, Peru.
The company recently announced its acquisition of the Big Hill lithium project in Newfoundland, signaling a strategic expansion of its portfolio beyond uranium. As the world moves towards a green energy revolution, the demand for both lithium and uranium surges, highlighting the importance of addressing fragile supply chains and resource concentration.
The Big Hill Lithium Project is a 7,500-hectare Lithium-Cesium-Tantalum (“LCT”) exploration property located in southwestern Newfoundland, Canada. The lithium project is located just south of the Kraken Deposit by Benton and Sokomon, a significant discovery in Newfoundland. Big Hill was acquired from a group of experts who were involved in the Alcan merger, a $6 billion deal. These experts, with experience in making big discoveries and managing large lithium deposits, will now work closely with Azincourt Energy’s VP of Exploration, Trevor Perkins, to develop the lithium project.
Today, Azincourt Energy provided an update on summer exploration plans at the Big Hill lithium project. No lithium specific historical exploration work has taken place on the Big Hill licenses to date. The initial field program will be divided into multiple phases.
A recent review of all the geophysical data and satellite imagery has resulted in 29 targets with an additional 52 targets. Evaluation of these target sets will be the focus of Phase One of the exploration program, with coincident targets within these two sets taking a higher priority for initial evaluation.
- The acquisition of high-resolution satellite Vivid Standard 30cm Imagery Mosaic, 5m CE90 Accuracy, 4-Band (BGRN), Cloud-Optimized.
- Remote Sensing mapping of pegmatites using Sentinel imagery to generate additional targets.
- Helicopter supported ground-truthing exercise focused on the high priority geophysics, satellite imagery, and remote sensing targets.
Phase One exploration is expected to begin in mid to late July. Results and additional targets generated will be the focus on the follow up Phase Two program.
“We are excited to get on the ground and start doing some meaningful exploration work at Big Hill,” said VP, Exploration Trevor Perkins. “The area is significantly underexplored for lithium, and the nearby Kraken discovery highlights that the potential exists for other lithium deposits to occur and can not be overlooked,” continued Mr. Perkins.
In terms of the uranium asset at East Preston, Azincourt Energy is still waiting for final analytical results from the winter 2022-23 drill program. Final results are expected to be received in the next week to 10 days.
Azincourt Energy stock is flat on the day on today’s news, and sits at a market cap of just over $8.2 million.
The stock remains in the consolidation phase as price continues to range between record lows at $0.035 to the downside and $0.045 to the upside. Bulls of Azincourt would want to see a strong candle close back above this support level ($0.045) to confirm a false breakdown. The fundamental catalysts ahead for a momentum break include the findings of the Phase One exploration program, and pending results from East Preston.
